Yamana changes some offer terms for Meridian

MichelleDonley

NEW YORK (MarketWatch) -- Yamana Gold Inc.
AUY, -0.92%
said Thursday that it has changed some terms of its offer for Meridian Gold Inc.
MDG, +1.35%
reducing the minimum tender consideration and upping the cash component of its acquisition proposal. Yamana said the minimum tender condition has been reduced to 50.1% from slightly more than 66%, and the offer deadline was extended to 8 p.m. Toronto time on Oct. 2. Yamana also hiked the cash component of the offer by C$2.50 per share to C$6.50 per share, while the share component remains unchanged. Meridian has consistently said it considers the Yamana offer to be too low. Yamana and Meridian are gold producers.

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